BioInvent International and ThromboGenics NV announce that they have agreed to amend their long-standing agreement, which covers the co-development of the novel anti-PlGF monoclonal antibody products TB-403 and THR-317.
The revisions to the existing agreement have been aligned with each company’s strategic ambitions and therapeutic focus.
The novel anti-PIGF monoclonal antibody is currently being developed as:
· TB-403, which is being evaluated in a Phase I/IIa trial as a treatment of relapsed or refractory medulloblastoma, a rare, life-threatening brain tumor that mainly affects children. TB-403 is being developed by Oncurious (a ThromboGenics’ oncology subsidiary), in collaboration with BioInvent.
· THR-317, which is being evaluated in a phase II trial in patients with diabetic macular edema (DME). This trial is being conducted by ThromboGenics exclusively.
Under the current agreement, the split of economic value for the compounds is 60:40 (ThromboGenics: BioInvent), with a 50:50 cost split for historical and future development costs.
Under the new agreed contractual arrangement, the spilt of economic value and costs will be as follows:
· TB-403 – BioInvent assumes the project lead for developments of TB-403 in all oncology indications, and increases its share of the economic value from 40 to 50 percent. The parties will continue to share the costs for development of TB-403 in oncology indications at 50:50.
· THR-317 – ThromboGenics gains full and exclusive ownership of THR-317 for development and commercialization in all non-oncology indications. ThromboGenics will continue to carry all costs for the development of THR-317 in non-oncology indications, and share a 5% economic value with BioInvent.
ThromboGenics and BioInvent have entered into a binding term sheet covering the above arrangement for TB-403 and THR-317, and will be executing the definitive amended agreements by Q3 2017.